Elizabeth Taylor stars as Velvet Brown, a small girl with a big dream -- to winfirst prize in the reknowned Grand National Steeplechase. With the aid of shrewd jockey pal (Mickey Rooney), she transforms "Pie", an unruly horse she won in a raffle, into a viable contender. But Velvet soon learns that it will take more than hard work and dedication to achieve her goal. She will also need love, family, friendship and trust... and the help of that elusive and mysterious property that can only be described as the magical power of childhood dreams.